Great news -- great Q2 results from MASK (Part 1 of 2)...................
biz.yahoo.com
Thursday October 30 6:30 AM EST
Company Press Release
Align-Rite International, Inc. Reports Record Second Quarter Results
LOS ANGELES, Oct. 30 /PRNewswire/ -- Align-Rite International, Inc. (Nasdaq:MASK) today reported record results for
the second quarter and six months ended September 30, 1997.
Revenues for the second quarter of fiscal year 1998 increased 18% to $11,424,000 from $9,666,000 for the second quarter
of fiscal year 1997. Net income for the second quarter of fiscal year 1998 increased to $1,491,000, or $0.31 per share, from
$1,375,000, or $0.29 per share, for the second quarter of last year. Second quarter revenues and net income were the highest
in the Company's history.
For the six months ended September 30, 1997, revenues increased 15% to $22,040,000 from $19,179,000 for the same
period last year. Net income for the six-month period of fiscal year 1998 was $2,939,000, or $0.61 per share, as compared
to $2,715,000, or $0.57 per share, for the comparable period of last year.
James MacDonald, Chairman and Chief Executive Officer, commented, ''We are pleased to report record financial results,
which reflect the fact that the fundamentals of our business remain strong. Our achievements during the quarter also included
the addition of several new customers, the completion of the construction phase of our expansion program at our
manufacturing facility in Wales, the installation of new photomask manufacturing equipment, and an acceleration of our capital
equipment expenditure program to facilitate a more rapid progression of our technology roadmap. The quarter also marked
the first full quarter of operations at our new manufacturing facility in Heilbronn, Germany, which was acquired from TEMIC,
Europe's fourth largest semiconductor manufacturer.''
''We attribute our continued success to three primary factors: the confidence and loyalty that we have established with our
valued customers, our ongoing investments to expand the Company's manufacturing capacity, and the focused endeavors of
our international employee team to exceed customer expectations,'' Mr. MacDonald added.
Align-Rite International, Inc. manufactures and markets quality photomasks and has grown to become the third largest
independent manufacturer of photomasks in the United States and Europe. Photomasks, which are precision photographic
quartz or glass plates containing microscopic images of integrated circuits, are used primarily by semiconductor manufacturers
as master images to transfer circuit patterns onto semiconductor wafers during the fabrication of integrated circuits. The
Company currently serves over 225 customers in 21 countries from three manufacturing facilities and six customer service
centers strategically located throughout the United States and Europe.
This press release may contain comments and forward looking statements made by Align-Rite based on current plans,
expectations, events and financial and industry trends which may affect the Company's future operating results and financial
position. Such statements involve risks and uncertainties which cannot be predicted or quantified and which may cause future
activities and results of operations to differ materially from those discussed above. For further information please refer to
Align-Rite International, Inc. filings with the Securities and Exchange Commission. |
